Forecasting

On a quarterly basis, the University Budget Office prepares a financial forecast report by revenue and expenditures categories for the Board of Trustees. As a function of the forecast, university departments are responsible for analyzing their budget and providing their forecast to the University Budget Office for incorporation into the high-level forecast for the institution.  

The following information is a function of the quarterly forecast:

• Fiscal Year Original Adopted Budget
• Fiscal Year Variances
• Fiscal Year Adjusted Forecast
• Variance Analysis
  • Departments provide a narrative for any adjustments made to the forecast.

University department budget officers are encouraged to utilize Ellucian Banner Self Service and Microsoft Power BI tools to view and analyze current and historical financial data and derive trends.